Airgas Acquires Dantack Corporation
August 31, 2007 at 14:36 PM EDT
Airgas, Inc. (NYSE:ARG) today announced it has acquired the assets and operations of Dantack Corporation, a Grand Prairie, TX-based safety distributor with branches in Columbus, OH and Richmond, VA. The business generated more than $18 million in sales during 2006.
The operations will be managed by Airgas Southwest, one of the Airgas regional companies, as a stand-alone business for the first few months. Later, operations in Ohio and Virginia will transition to other Airgas regions.
Airgas is one of the largest distributors of safety products in the U.S. with $438 million in sales in fiscal 2007 through telesales and field-based safety specialists within its regional companies.
The owners of the business for the past two decades, Cathy Croy and Mark Dannemiller, will oversee the transition, in which about 40 Dantack employees are being offered employment by Airgas in the three locations. Mark Dannemiller is joining Airgas Southwest as a general manager for safety sales. Dantack President Cathy Croy remains as a consultant during the integration.
“Dantack’s extensive local coverage throughout Texas, combined with its national accounts program, makes it a great strategic fit for Airgas,” said Brent Sparks, president of Airgas Southwest. “We welcome Dantack’s associates and customers and look forward to merging its business with our own strong safety business.”
“We believe joining forces with Airgas will provide the best long-term opportunities for Dantack’s associates and customers,” said Dannemiller. “Our customers will benefit from Airgas' intense focus on customer service, with access to all the leading brands of safety products, plus access to the broader product offering of the nation’s largest distributor of packaged gases and related products.”
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 14,000 employees work in over 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also distributes its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, statements regarding: plans for Airgas Southwest to manage Dantack operations as a stand-alone business for the first few months; expectations to later transition operations in Ohio and Virginia to other Airgas regions; intentions to offer approximately 40 former Dantack employees positions with Airgas; and, the belief that Dantack’s local coverage in Texas and national accounts program makes them a great strategic fit for Airgas. We intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: : our ability to successfully integrate the former Dantack Corporation, including retention of both customers and employees; supply availability and cost pressures; the Company’s ability to identify, consummate and successfully integrate future acquisitions; an economic downturn; increased competition; customer acceptance of the Company’s products; adverse changes in customer buying patterns; adverse changes in general economic conditions; political and economic uncertainties associated with current world events; and other factors described in the Company’s reports, including Form 10-K dated March 31, 2007 and other forms filed by the Company with the Securities and Exchange Commission.